German December ZEW economic sentiment has come in at 50.4, pretty much in line with median forecast of 50.0.
Current conditions -60.6 versus median forecast of -61.0.
ZEW says we are still at bottom of recession, next year will see recovery but no upswing. Recovery will be mainly driven by exports. Banks still must clean up their balance sheets.
EUR/USD at session low 1.4530. Obviously 1.4500, base parameter of touted 1.45/1.53 dnt looms large.
Technical support 1.4515/20.
